Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sanstar-limited" target="_blank" data-smartkarma-citation="entities:43662:1" rel="noopener">Sanstar (SANSTAR123 IN)</a> is primarily focused in producing maize based specialty products and ingredient solutions in India. It currently occupies a market share of around 7.8%. </li>
<li>The company has shown good growth in the last two years; however, when it comes to accounting and forensic checks there are several grey areas/unique policies.</li>
<li>Examples: Revenues are stated gross of GST and are net of freight and brokerage costs. Classification of some of free reserves into revaluation reserve, Salaries paid to some senior personnel,etc.</li>
</ul>



Sanstar (SANSTAR123 IN) is primarily focused in producing maize based specialty products and ingredient solutions in India. It currently occupies a market share of around 7.8%. 
The company has shown good growth in the last two years; however, when it comes to accounting and forensic checks there are several grey areas/unique policies.
Examples: Revenues are stated gross of GST and are net of freight and brokerage costs. Classification of some of free reserves into revaluation reserve, Salaries paid to some senior personnel,etc.


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Sanstar (SANSTAR123 IN)

Sanstar IPO- Forensic Analysis

Sanstar Limited in India specializes in maize-based products with a 7.8% market share, but faces scrutiny for unique accounting practices and grey...

Nitin Mangal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sanstar IPO- Forensic Analysis

​Sanstar Limited in India specializes in maize-based products with a 7.8% market share, but faces scrutiny for unique accounting practices and grey...

Nitin Mangal

Sanstar Limited in India specializes in maize-based products with a 7.8% market share, but faces scrutiny for unique accounting practices and grey...